Industrial and Labor Economics SCDL Paper - 4

 Thanks to Sushma for submitting this question paper

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Hi please post this in the SCDL question papers blog ASAP. 

Thanks 

Shushma 

 

Industrial and Labour Economics:

PGDHRM - Question paper & Assignment

 

I.               Subjective Questions (answer any 2 out of 3):

 

1.     What is a Planning Commission and its main objectives?

2.     Write about the short term industrial financing?

3.     Explain the significance of Foreign Direct Investment with respect to Indian Economy.

 

II.            Objective Questions(exam & assignment questions):

 

Select single option:

1.The profile of Indian labour has also transformed in the context of

1.     Economic reforms

2.     Social reform

3.     Collective bargaining

4.     Labour reform

3.     One of the primary objectives of the five year plan was to strengthen the agricultural sector which is the backbone of:

1.     our economy

2.      our constitution

3.     our country

4.     our industries

4.     When the wages increase, it will be unable to bear the cost of production, the business will scale down its production. This is called as the;

1] Scale effect.
2] The substitution effect

3] Hawthorne effect
4] cause and defect effect

5.     When labour expenses are a high proportion of total costs, labour demand can be expected to be more elastic than an industry and is known as;

1] capital intensive.

2] labour intensive

3] demand intensive

4] supply intensive

 

6. He is defined as a temporary worker who only works when their employer asks them.

1] A casual worker
2] Permanent workers

3] Daily wage earners

4] Forced labour

 

7. The 1st chairman of planning commission is:

a) Gandhi

b) Jawaharlal Nehru

c) subhas Chandra Bose

d) Indira Gandhi

 

8. A regulatory framework was set up for redressing labour:

a) work planning

b)grievances

c) wages

d) personal problems

 

 

9. When leisure has a high opportunity cost, work is substituted for leisure. This is called as

a) leisure effect

b) substitution effect

c) scale effect

d) intensive effect

 

10. Minimum wages are determined by the government under Section 5 of :

a) minimum wages act 1948

b)employees compensation act 1923

c) trade union act 1926

d) the payment of wages act 1965

 

11. When an employment is terminated due to any reason it takes some time for the person to find another employment again, this is known as:

a) seasonal unemployment

b) frictional unemployment

c) cyclical unemployment

d) structural unemployment

 

Select multiple options:(answers in blue colour font)

1. The International Labour Organisation has some core objectives which are in the nature of:

1] Promoting and realizing the standards and fundamental principles and rights at work.

2] Creating greater opportunities for women and men to secure decent employment and income.

3] Enhancing the coverage and effectiveness of social protection for all.

4] Abolishing zamindari system

2. Some of the problems faced by women workers are

1] paid less than male workers

2] harassment at workplace

3] rural women have less access to information and technology

4] Women workers are preferred in some areas where the work demands lot of commitment or uninterrupted service.

 

3. Some advantages of collective bargaining are :

1] a few active employees might dominate the negotiations

2] when the management and the workers are in unison, there are no industrial disputes

3] if implemented properly then collective bargaining lays the foundation for industrial democracy

4] it increases morale and productivity of the workers

4.

1] Neo-classical theory   -    1. Developed after the Second World War

2] The Keynesian theory of Employment           

-   2. The General Theory of Employment, Interest and Money transformed

                                                    the course of economic thought with its controversial interpretation of

                                                    the causes of unemployment.

3] Classical theory           -    3.Employment is determined by the aggregate labour market.

4] Karl Marx                     -   4. Propounded a theory of alienation which is the result of capitalism.

     5. Also called as real wage employment

    6. According to the classical theory, employment is not determined by the    

       aggregate labour market

 

5.

1] Geographical mobility        - The ease at which labour can move from one working place to another

2] Horizontal mobility            - when a worker is moving from one organization to another at the same level

3] vertical mobility                   - movement of the worker from lower level to higher level

4] Occupational mobility          - ease with which labour can change from one type of job to another

 

6.

Sickness of an industry affects not only its immediate stake holders . i.e. the share holders, the management, the employees and also

1] certain economic and social repercussions

2] the financial institutions

3] the creditors

4] the employers

 

Fill up the blanks:

1. ________________ focuses on micro-economic theory and explores the conditions of static equilibrium where demand is always equal to supply

1] Neo-classical theory
2] The Keynesian Theory of Employment

3] Classical Theory
4] Karl Marx Theory

 

2. Real wages are dependent on the level of _____________ in the country.

1] inflation

2] supply index

3] demand ratio

4] labour policy

 

3. ________________ have a strong bargaining power due to collective action.

1] Trade Union

2] employers

3] employees

4] managers

 

4. _______ is the sum total of the demand from all the households and all the firms.

1] Aggregate demand

2] Aggregate supply

3] Aggregate cost

4] Aggregate wage

 

 

5. NREGA act guarantees ______________ days of employment in a year:

a) 50 days

b) 100 days

c) 200days

d) 150 days

 

6. A labour cannot be treated as a commodity, there are many ­­­__________ factors influencing the market:

a) social-psychological

b) labour reform

c) financial

d) trade-union

 

7. ______________ are supplements to regular wages received by the workers at the cost of employers:

a) fringe benefits

b) intensive benefits

c) perquisites

d) allowances

8. According to Weber if the weight of the finished goods is less than the weight of the raw materials then it is called as _______________.

a) weight-gaining case

b) weight loosing case

c) weight of localized material

d) material index

 

State True or False:

1. Two-third of India’s workforce is employed in agriculture and rural industries. (True)

2. Agriculture in India is not labour intensive. (Flase)

3. An employee can be terminated at any time during probation period without giving reason. (True/False)

4. Two third of Indian labour are towards agriculture labour .(True)

5. Cost of relocation, standard of living, family ties and obligations are some of the hurdles in geographical mobility of the worker (True/False).

6. Industrial licensing policy and procedures have also been liberalised from time to time (True/False).

7. The term Industrial Finance will include institutions and mechanisms which affect the generation of savings by the people mobilize those savings and effectively distribute these savings towards industrial needs. (True/False)

8. Industrial economics is a field of study that applies micro economic principles in industrial decision making (True/false)

9. Tiny sector incorporating investment in industrial units in machinery and equipment up to Rs 1 lakh (True/false)

10. wages are of utmost importance to the worker because his life and his standard of living depend on it (True/fasle).